BREAKING: Bitcoin Finally Hits New Record at $100,000

The moment all cryptocurrency investors have been waiting has finally arrived - Bitcoin managed to break the $100,000 level.

Years ago this price level seemed like a wild speculation and analysts who predicted it were thought to be way too biased and delusional. Well, the time has finally come.

This major milestone comes right after MicroStrategy announced the acquisition of BTC worth $4.6 billion, and offering convertible notes worth $2.6 billion for the purpose of buying more Bitcoin.

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At the time of writing, Bitcoin is trading at $102,250 after a 6% surge in the past 24 hours and trading volume of around $90.7 billion. For the past 7 days BTC’s price is up 7%. The cryptocurrency’s market cap is currently $2 trillion.

Since November 5, the price of BTC has increased by more than 48%, and 144% in the past year.

Much of the gains came as demand for the digital currency surged after the election, which saw a landslide victory for pro-cryptocurrency candidates led by President-elect Donald Trump.

In addition, yesterday Trump announced his selection as chairman of the Securities and Exchange Commission (SEC) to replace outgoing chairman Gary Gensler. The nominee’s approach is expected to contrast sharply with that of the outgoing leadership, whose tenure was marked by ambitious reforms and record fines for regulatory violations.

Some enthusiasts describe the incoming chairman as a “proven leader” focused on fostering innovation, particularly in digital assets and fintech, and supporting capital markets that drive economic growth.

The total cryptocurrency market cap surged 3.2% to $3.66 trillion with a total market volume of over $340 billion.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.